Multi-Family Home in Prospect
42 Brown Ave, Haledon, NJ 07508
3-Three Story, See Remarks, Multi-Family - Prospect Park Boro, NJ
Property size:
1,882 SFLot size:
0.06 AcresPrice / SF:
$265/SF- Added:
- Mar 4, 2026
- Days on Market:
- 87
- Last Refresh:
- May 30 at 5:06 pm
Property Features for 42 Brown Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 7
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen
- Parking
- 4
- Parking features
- Driveway
- Basement Y/N
- 1
- Standard status
- Active
- Size
- 1,882 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 10237
Utilities
- Heating system
- Baseboard, Forced Air, Hot Water (Heating)
Building Details
- Year built
- 1895
- Number of units
- 2
- Building materials
- Vinyl Siding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent CHRISTOPHER ARAYA (888) 501-6953
Listing office UNITED REAL ESTATE 18-19 RIVER ROAD, Fair Lawn, NJ (888) 501-6953
Listing date Mar 4, 2026
MLS# 4012535
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Legal 2‑family home in Prospect Park offering rental income potential.
- Multiple levels of living space including a partial finished basement.
- Two units: one with 2 bedrooms plus basement bonus space, the other with 5 bedrooms across two floors.
- Four full bathrooms.
- Handyman special priced for value and equity building opportunity.
- Includes driveway parking.
Overview
Located in Prospect Park, this legal 2-family home offers multiple levels of living space, including a partial finished basement. The first-floor apartment features 2 bedrooms, a kitchen/dining area, a full bath, plus a bonus space in the finished basement. The second-floor unit offers 2 bedrooms, a kitchen/dining area, a full bath, with an additional 3 bedrooms on the third floor. The home includes 4 full bathrooms. This property is a handyman special, offering upside for contractors, investors, or owner-occupants looking to customize and build equity. The property is being sold in "as is" condition and is in need of repair, making it ideal for renovation loans or a cash offer. With rental demand in Prospect Park rising, this property presents an opportunity for long-term investment and strong return potential. The property is situated on a lot of 0.06 acres and the building size is 1882 square feet. The property is suitable for use as a duplex, multifamily property, or residential income property.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.1k | $25.56 |
| − Vacancy | −$3.1k | −$1.65 |
| EGI | $45.0k | $23.91 |
| − OpEx | −$13.5k | −$7.17 |
| NOI | $31.5k | $16.74 |
1,882 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$450.0K
$393.7K – $525.0K
NOI $31,497 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$413.4K
$361.8K – $482.4K
NOI $28,941 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$491.4K
$430.0K – $573.3K
NOI $34,400 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Haledon
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.17151
- Latitude
- 40.93295
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Legal 2-family home with strong rental income potential.
Where is this duplex located?
The property is located at 42 Brown Ave Haledon, NJ.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Legal 2‑family home in Prospect Park offering rental income potential.; Multiple levels of living space including a partial finished basement.; Two units: one with 2 bedrooms plus basement bonus space, the other with **5 bedrooms across two floors**.
